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cliff deal. now he's doing it "gangnam style." watch this. ♪ some people have gone off the cliff on this. we've officially jumped the shark in an attempt to not go over the fiscal cliff. much more of this incredible video coming up. >>> and then even if you don't like facebook as a stock, you may soon own it in your portfolio. we'll tell you why, and whether that's a good thing or not. back in a moment on "the closing bell." we are gathered here today to celebrate the union of tim and laura. it's amazing how appreciative people are when you tell them they could save a lot of money on their car insurance by switching to geico...they may even make you their best man. may i have the rings please? ah, helzberg diamonds. nice choice, mate. ...and now in the presence of these guests we join this loving couple. oh dear... geico. 15 minutes could save you 15% or more on car insurance. >>> you see the dow and s&p higher but nasdaq lower. apple almost single handedly keeping the composite in the red toda
cliff deal. now he's doing it "gangnam style." watch this. ♪ some people have gone off the cliff on this. we've officially jumped the shark in an attempt to not go over the fiscal cliff. much more of this incredible video coming up. >>> and then even if you don't like facebook as a stock, you may soon own it in your portfolio. we'll tell you why, and whether that's a good thing or not. back in a moment on "the closing bell." we are gathered here today to celebrate...
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Nov 30, 2012
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let me begin our conversation by asking you, what are the chances that we will get a fiscal cliff deal by the end of this year? wince think they're reasonably good. all the building blocks are in place. at this point really people just have to choose from the options that are available. and it's hugely consequence for the country if we fail. so i remain opposite sdns-- optimistic. >> we heard dramatic sound bites when do we start rung out of time and risk going over the cliff? how much time dow need to get an agreement? >> well, realistically, if an agreement were reached in the next several weeks there would be time to get all of the language put together to have it implemented. so there is still significant time to get this agreement reached. >> as you know house speaker boehner was calling on democrats today to propose specific spending cuts to entitlement programs. we foe that the white house is proposing around $300 billion in cuts to medicare is that all the program can take or are republicans right in saying there is more room to cut entitlement spending? >> well, look financial
let me begin our conversation by asking you, what are the chances that we will get a fiscal cliff deal by the end of this year? wince think they're reasonably good. all the building blocks are in place. at this point really people just have to choose from the options that are available. and it's hugely consequence for the country if we fail. so i remain opposite sdns-- optimistic. >> we heard dramatic sound bites when do we start rung out of time and risk going over the cliff? how much...
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last night, we covered the details of the president's opening gambit in the fiscal cliff talk. he wants a $1. trillion tax increase, 50 billion and stimulus spending. and the white house has the ability to raise the debt ceiling without congressional approval. a very big deal for folks there. today, the president is out there, trying to drum up support among the public. not in washington or with congress or the senate. here is what he had to say. >> it is noacceptable to me, and i do not think it is acceptable to you for a handful of republicans in congress will middle-class tax cuts hostage simply because they don't want tax rates on upper income folks go up. gerri: it sounds like the same old, same old. the president has been making the same comments again. is this any way to sell a plan? >> there really is not. the president is not being serious about this. the fact that the president is out there campaigning on this rather than negotiating, it means that those that are negotiating, such as secretary geithner, they probably don't feel bound by what the president is saying. t
last night, we covered the details of the president's opening gambit in the fiscal cliff talk. he wants a $1. trillion tax increase, 50 billion and stimulus spending. and the white house has the ability to raise the debt ceiling without congressional approval. a very big deal for folks there. today, the president is out there, trying to drum up support among the public. not in washington or with congress or the senate. here is what he had to say. >> it is noacceptable to me, and i do not...
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. >>> no fiscal cliff deal without raising taxes on the rich. that's what treasury secretary timothy geithner told steve lease son. steve joins us from the white house with more on this. >> melissa, thanks very much. interesting comments from the treasury secretary who laid out the negotiating position of the administration in ways that it hadn't before, at least not explicitly as they had. what i want to play here is the sound from the interview and i'm going to put my question in there too just so you understand exactly what the treasury secretary was responding to when it comes to the position of the administration on walking away or letting the country go over the fiscal cliff without tax hikes for the wealthy. here it is. >> i want to understand the administration's position when it comes to raising taxes on the wealthy and those making more than $250,000. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates go
. >>> no fiscal cliff deal without raising taxes on the rich. that's what treasury secretary timothy geithner told steve lease son. steve joins us from the white house with more on this. >> melissa, thanks very much. interesting comments from the treasury secretary who laid out the negotiating position of the administration in ways that it hadn't before, at least not explicitly as they had. what i want to play here is the sound from the interview and i'm going to put my question...
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Nov 30, 2012
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take that deal. don't go over the fiscal cliff. live to find another deal on a grand bargain. tax reform, entitlement. >> you really think democrats, they get that tax increase, that they're going to come and give spending cuts late sner. >> i think there are ways you can try to make it. eric's made a great point historically that things like ruddman, the spending cuts never end up happening. everyone who's realistic at the table recognizes you've got to have a balanced plan. serious cuts and revenue increases. you can't -- >> we've had 18 debt and deficit commissions since '81. the cuts never came. >> cynicism isn't a plan though, eric. we need to put forward a plan. can't just keep saying they're screwing it up. >> if you don't put cuts in though with tax increase, you've got a problem because it's easy to raise taxes on a few people. most people will not support cuts that hurt them. >> you've got to have entitlement reform. >> you can actually lower rates, close loopholes and raise revenue. >> all right. thanks to both. appreciate it. more than two months after the deadly a
take that deal. don't go over the fiscal cliff. live to find another deal on a grand bargain. tax reform, entitlement. >> you really think democrats, they get that tax increase, that they're going to come and give spending cuts late sner. >> i think there are ways you can try to make it. eric's made a great point historically that things like ruddman, the spending cuts never end up happening. everyone who's realistic at the table recognizes you've got to have a balanced plan....
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what kind of expectations are out there on this fiscal cliff story? we seem to feel that there's a deal in the air. why else do we see such optimism today? rick? >> oh, for me? i'm sorry. i'll tell you what, maria, i'm not sure what's going on in washington. i'm not sure who those republicans are. i'm not so sure on whether the fiscal conservatives in the party know something about some big reforms on medicare and medica medicare, social security is, any of the retirement or tax issues, but i'll tell you this. i think that all these stories aren't necessarily going lead us to the truth. i personally have a very size way i'm approaching this. the president is supposed to leave for a 21-day vacation in hawaii on december 17th. where he is on december 18th will tell me, and i think the markets will pay attention. i find it hard to believe, and i agree with bill and many, who are very not amused by the house taking their long weekend. i'm sure that the president would have no intentions of leaving until these issues are resolved. i think the market is bei
what kind of expectations are out there on this fiscal cliff story? we seem to feel that there's a deal in the air. why else do we see such optimism today? rick? >> oh, for me? i'm sorry. i'll tell you what, maria, i'm not sure what's going on in washington. i'm not sure who those republicans are. i'm not so sure on whether the fiscal conservatives in the party know something about some big reforms on medicare and medica medicare, social security is, any of the retirement or tax issues,...
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. >> fiscal cliff talks are turning into a high stakes game of chicken. timothy geithner said there's no deal unless republicans agree to raise taxes on the wealthy. republicans are furious. they don't like democrats drawing a red line in the sand. president obama and the gop leaders have only held one face-to-face meeting on the fis calgary cliff since the election. that meeting took place more than two weeks ago. >>> the military trial of private bradley manning will stop fou now and resume in a month. that's what a military judge decided today. the delay is to give time for more of what the court calls pretrial proceedings. manning is accused of releasing u.s. military secrets through the website wikileaks. if convicted in a court-martial, he could get life in prison. >>> pope benedict is joining twitter officially. he launches his own internet account tomorrow. that's according to the vatican. a church official tells cnn that the pope will compose all of his tweets himself. no word yet on what he's chosen for his twitter account name. >>> it is a sigh
. >> fiscal cliff talks are turning into a high stakes game of chicken. timothy geithner said there's no deal unless republicans agree to raise taxes on the wealthy. republicans are furious. they don't like democrats drawing a red line in the sand. president obama and the gop leaders have only held one face-to-face meeting on the fis calgary cliff since the election. that meeting took place more than two weeks ago. >>> the military trial of private bradley manning will stop fou...
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cliff deal this morning. this is what house speaker john boehner said about the state of the negotiations. take a listen. >> i think they're -- they won the election, they must have forgotten the republicans continue to hold the majority in the house. but you know, the president's idea of a negotiation is -- roll over and do what i ask. we need to find common ground and we need to find it quickly. >> governor, are they going to be able to find that common ground quickly? >> yeah, i think they are. you know i have to laugh. in the first term, the president was criticized by his base for giving in too quickly or too easily. this is a negotiation. and in the negotiation, you don't put on the table initially where you want to wind up. you put out what's your bargaining position and both sides have to understand that. but what i do think is important, is both sides, and not just the president, but our democrats in the congress as well. have to understand both sides have to understand what the other side needs to d
cliff deal this morning. this is what house speaker john boehner said about the state of the negotiations. take a listen. >> i think they're -- they won the election, they must have forgotten the republicans continue to hold the majority in the house. but you know, the president's idea of a negotiation is -- roll over and do what i ask. we need to find common ground and we need to find it quickly. >> governor, are they going to be able to find that common ground quickly? >>...
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lawmakers wrestling to make a deal to keep us from going over the so-called fiscal cliff taking to the airwaves. house speaker john boehner rejecting the proposal and calling talks a waste of time and treasury secretary timothy geithner standing firm saying there will be no deal without raising taxes for top earners. a new and unusual storm system bringing inches of rain and strong winds to northern california and parts of the pacific northwest. today's round predicted to be the worst of series that have come already, bringing flooding problems in several areas, but there is more rain to come. the taliban targeting a joint u.s.-afghan base killing at least five afghans. and the gun battled lasted two hours, no americans were hurt in the attack. new developments tonight for america's strongest ally and friend in the middle east, israel. it follows last week's decision by the united nations general assembly to upgrade the palestinian status from observer entity to non-member state, a move both israel and the u.s. voted against. today, israel announcing a decision of its own, the palestin
lawmakers wrestling to make a deal to keep us from going over the so-called fiscal cliff taking to the airwaves. house speaker john boehner rejecting the proposal and calling talks a waste of time and treasury secretary timothy geithner standing firm saying there will be no deal without raising taxes for top earners. a new and unusual storm system bringing inches of rain and strong winds to northern california and parts of the pacific northwest. today's round predicted to be the worst of series...
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of how the fiscal cliff gets resolved. in the end, they have got not much. they can say they have a mandate so it's equal, but it really isn't and they know that. >> we seem to know as much about mitt romney's taxes as we do about the loopholes republicans are willing to close in this. they can't offer any specifics. is this a turnoff for the people? >> in fairness we have to recognize that there's been a lack of specifics on both sides here. they are negotiating in public. you notice that that's how this stuff is coming out. it's not phone calls between the two sides or closed-door meetings. we don't know what spending democrats would cut and we haven't even begun the entitlements discussion, which the president is theoretically open to. so there's a lot that still needs to happen. i mean for you and me and normal people, three weeks away may seem like a short time, but there's a feeling that this has barely even begun. >> here's senator bob corker and clairk mccaskill. here it is. >> great detail, very painful cuts to me
of how the fiscal cliff gets resolved. in the end, they have got not much. they can say they have a mandate so it's equal, but it really isn't and they know that. >> we seem to know as much about mitt romney's taxes as we do about the loopholes republicans are willing to close in this. they can't offer any specifics. is this a turnoff for the people? >> in fairness we have to recognize that there's been a lack of specifics on both sides here. they are negotiating in public. you...
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i want to hear from her in terms of how close or far the two sides are from a deal on the fiscal cliff. we'll bring you that live once nancy pelosi takes to the podium. stay with us on that. >>> meanwhile, 30 minutes before the closing bell sounds on wall street. we have a market well off the highs of the day as we approach this final stretch. the dow jones industrial average up about 20 points here after being higher by 77 earlier in the session. will it be a happy holiday for luxury retailers, or are fears of the fiscal cliff forcing consumers to cut back there as well? the ceo of burberry will give us her take. >>> and who will buy twinkies and other well-known hostess brands? big developments on that front today. find if you'll be able to buy a twinkie. you're watchi ining "the closin bell." stay with us. tdd# 1-800-345-2550 you should've seen me today. tdd# 1-800-345-2550 when the spx crossed above its 50-day moving average, tdd# 1-800-345-2550 i saw the trend. tdd# 1-800-345-2550 it looked really strong. tdd# 1-800-345-2550 and i jumped right on it. tdd# 1-800-345-2550 tdd# 1-800
i want to hear from her in terms of how close or far the two sides are from a deal on the fiscal cliff. we'll bring you that live once nancy pelosi takes to the podium. stay with us on that. >>> meanwhile, 30 minutes before the closing bell sounds on wall street. we have a market well off the highs of the day as we approach this final stretch. the dow jones industrial average up about 20 points here after being higher by 77 earlier in the session. will it be a happy holiday for luxury...
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the spending cuts in this deal to avoid the fiscal cliff. because that's not what they're doing right now. should they include this? >> yes, and i know that democrats except that this has to be a balanced package that includes revenues and cuts and spending cuts. >> yet months ago, that ws voted down 99 to zero. earlier this week, the number two democrat in the senate, dick durbin, insisted maj spending cuts and entitlement reform will not be part of these talks. nancy pelosi has been noncommittal about whether cuts will be in the deal. still, they are trying to breathe into the talks with vice present biden shopping avenue costco in washington, picking up a big-screen tv and an apple pie and insisting he is optimistic of the deal. >> i am. all these folks in the store. they are ing to make a difference. reporter: a phone call last night betwee speaker boehner and the president was very curt. it signaled that the president is flexible on taxes by not being specific on the new rates. >> i will say that there can be no deal without rates on to
the spending cuts in this deal to avoid the fiscal cliff. because that's not what they're doing right now. should they include this? >> yes, and i know that democrats except that this has to be a balanced package that includes revenues and cuts and spending cuts. >> yet months ago, that ws voted down 99 to zero. earlier this week, the number two democrat in the senate, dick durbin, insisted maj spending cuts and entitlement reform will not be part of these talks. nancy pelosi has...
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on the fiscal cliff. because then it would be a different game, i presume. so what is your own chances of us not getting a deal done, how high or low do you raid that? >> i think it's relatively low, but we also have to bear in mind that january 1st is something of a false dead line. government agencies can still spend as if the budget cuts are not going to happen until say later in the year. so i believe that eventually even though there is a chance that you can't disregard the chance of no deal being made, i think within the early months of next year, there's a strong chance of a favorable resolution to the budget deficit. >> ben, thanks for that. the british chancellor george osbourne has defended the government's plan to turn the economy around and rein in spending. >> we have to get control on spending. that's why i'm operating benefits by less than the rate of inflation. that's why i've curbed the tax relief for the largest pensions. but we are making progress. the can deficit is down by 25%. foreca
on the fiscal cliff. because then it would be a different game, i presume. so what is your own chances of us not getting a deal done, how high or low do you raid that? >> i think it's relatively low, but we also have to bear in mind that january 1st is something of a false dead line. government agencies can still spend as if the budget cuts are not going to happen until say later in the year. so i believe that eventually even though there is a chance that you can't disregard the chance of...
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timothy geithner saying we'll have a fiscal cliff deal, but then listen to what speaker john boehner said today. >> right now i would say we're nowhere. period. we're nowhere. we have put a serious offer on the table by putting revenues to try to get this question resolved. but the white house has asked for more revenue than they have been asking for the entire time. >> so how do you treat the gop in this matter? how much leverage does the gop have? >> they have next to none. you look at the results of the election and where they are now, the white house and the president have done a masterful job of making clear what's going on here. the republicans and the house of representatives are holding 98% of american taxpayers hostage to get bush's tax cuts for the wealthiest to be permanent. that's what's going on here. the polls show people are going to blame the republicans if this happens. speaker boehner talks about a serious proposal. they are going to take away loopholes that help middle class taxpayers. that's not a serious proposal. the only way they are going to get the deficits d
timothy geithner saying we'll have a fiscal cliff deal, but then listen to what speaker john boehner said today. >> right now i would say we're nowhere. period. we're nowhere. we have put a serious offer on the table by putting revenues to try to get this question resolved. but the white house has asked for more revenue than they have been asking for the entire time. >> so how do you treat the gop in this matter? how much leverage does the gop have? >> they have next to none....
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to avert the fiscal cliff. both sides seem to be digging in for a fight. the white house saying it will not agree to a deal without raising taxes on the wealthiest americans. the gop says they want to see changes made to medicare, medicaid and social security. here is republican senator kelly ayotte of new hampshire. >> i was disappointed by the president's proposal. i think it is essentially a rerun of his budget proposal. i mean the revenue proposals are $1.6 trillion in revenue and tax increases. it is a massive tax increase but also, also not significant and meaningsful entitlement reforms. jon: a piece today in the "wall street journal" says more is at stake than just the fiscal cliff. quote, democratic lawmakers and party strategists say the success of his second term could ride on how this early battle unfolds. if mr. obama can cement a bipartisan deal to his liking many believe his approach to the negotiations could serve as template for tackling major issues that could play out over the next four years
to avert the fiscal cliff. both sides seem to be digging in for a fight. the white house saying it will not agree to a deal without raising taxes on the wealthiest americans. the gop says they want to see changes made to medicare, medicaid and social security. here is republican senator kelly ayotte of new hampshire. >> i was disappointed by the president's proposal. i think it is essentially a rerun of his budget proposal. i mean the revenue proposals are $1.6 trillion in revenue and tax...
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negotiations well underway to avoid a fiscal cliff. to your point, you recently said, even if we reach a deal, the economy is still at series risk of a recession. >> that is right. we are looking at and economy that is very weak. growth was very disappointed. less than 2% real gdp growth in 2012. we will be struggling to achieve that next year, even without hitting the economy with more fiscal bad news. if we go over the cliff, it is really a major downturn. uncertainty remains about what is coming next. put that all together and we could certainly be put on the edge of a recession. lori: that manufacturing number coming in the low 50s, singling contraction. is that the first signal that this economy really is in trouble? >> certainly not the first signal. household earnings down. real disposable personal income has not increased since may. we are really looking at an economy that is weak. ooly thing keeping keeping consumer spending going is that households have been prepared to cut back on their savings rate to such a low level that
negotiations well underway to avoid a fiscal cliff. to your point, you recently said, even if we reach a deal, the economy is still at series risk of a recession. >> that is right. we are looking at and economy that is very weak. growth was very disappointed. less than 2% real gdp growth in 2012. we will be struggling to achieve that next year, even without hitting the economy with more fiscal bad news. if we go over the cliff, it is really a major downturn. uncertainty remains about what...
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cliff is not focusing attention. the report that mitch mcconnell laughed yesterday when timothy geithner presented the white house position, this is the mitch mcconnell who said we're going to -- my main goal is to defeat the president, not give him a second term. >> how is that working? >> senator mcconnell, second term is here, things have changed, and the obama -- the last term where he was reaching out offering to negotiate from the middle, is gone. you know, he's going to put out there what he wants because he won and there is not a chance of defeating him now. at least in an election. and i don't think on this issue. on the issue of middle class tax cuts republicans want to go forward saying we raised taxes on the middle class. >> but chris, doesn't the white house have to be a little more specific about what's in that $400 billion of medicare cuts? i mean they're trying to smoke out what the republicans are willing to go for, but each side is suspicious, understandably, they will get hammered publicly. >> that
cliff is not focusing attention. the report that mitch mcconnell laughed yesterday when timothy geithner presented the white house position, this is the mitch mcconnell who said we're going to -- my main goal is to defeat the president, not give him a second term. >> how is that working? >> senator mcconnell, second term is here, things have changed, and the obama -- the last term where he was reaching out offering to negotiate from the middle, is gone. you know, he's going to put...
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the deal is to avoid a series of tax increases, and spending cuts that many believe would be a fiscal cliff that would kick in on january the 1st. chief congressional correspondent mike emanuel is watching it all unfold on capitol hill. what do we know about the visit about the expectations for what might happen during it. >> reporter: martha, timothy geithner arrived here on capitol hill a short time ago to meet first with senate majority leader harry reid. we know he's having individual meetings with the top four leaders of congress. what republicans have said they want to hear, and republicans will be critical, because they need republican support to get any final fiscal cliff deal through the senate, and also through the house, they say they hope that he's coming with concrete spending cut ideas that are acceptable to the administration. one of the meetings today will be with senate republican leader mitch mcconnell who a short time ago sounded pretty fired up. >> the only reason democrats are insisting on raising rates is because raising rates on the so-called rich is the holy gr
the deal is to avoid a series of tax increases, and spending cuts that many believe would be a fiscal cliff that would kick in on january the 1st. chief congressional correspondent mike emanuel is watching it all unfold on capitol hill. what do we know about the visit about the expectations for what might happen during it. >> reporter: martha, timothy geithner arrived here on capitol hill a short time ago to meet first with senate majority leader harry reid. we know he's having individual...
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speak, roughly what size spending cuts do you think it would take to reach a deal on the fiscal cliff and do you think that at least the promise of spending cuts has to be included in this level of deal at this time? >> i don't think it's productive for either side to what i out hard lines in terms of what the size of the spending cuts ought to be. there are a lot of options on how you can get there. but the second part of your question was -- >> my question is do you think the promise of spending cuts has to be included in the deal that overts a fiscal cliff. >> there is a framework that we presented to the white house two weeks ago. the framework has been agreed to in terms of really a down payment on the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year and tax reform next year. but this is way out of balance. and not recognition on the part of the white house about the serious spending problem that we have. >> based on the procespect of going over the fiscal cliff which you just called serious bus
speak, roughly what size spending cuts do you think it would take to reach a deal on the fiscal cliff and do you think that at least the promise of spending cuts has to be included in this level of deal at this time? >> i don't think it's productive for either side to what i out hard lines in terms of what the size of the spending cuts ought to be. there are a lot of options on how you can get there. but the second part of your question was -- >> my question is do you think the...
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today's fiscal cliff photo op of the day is going to be in suburban northern virginia when the president will remind the public yet again that without a budget deal taxes will go up on 100% of americans at the end of the year. he'll visit the home of a middle class family who shared their story through the white house's hash tag my 2k social media campaign. >>> with talks and a public stalemate on wednesday the president called speaker boehner their first conversation of the week. the two sides agreed on one thing. they wouldn't characterize the conversation. aides even refused to say how long the two leaders talked. this latest move, though, treasury secretary timothy geithner showed cnbc wednesday the white house is prepared to go over the cliff if democrats and republicans fail to get a deal done. >> when it comes to raising taxes on the wealthy, those making more than $250,000, if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again, there is no prospect to an agreement that doesn't involve those rates going up on the
today's fiscal cliff photo op of the day is going to be in suburban northern virginia when the president will remind the public yet again that without a budget deal taxes will go up on 100% of americans at the end of the year. he'll visit the home of a middle class family who shared their story through the white house's hash tag my 2k social media campaign. >>> with talks and a public stalemate on wednesday the president called speaker boehner their first conversation of the week. the...
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. >>> the market does remain laser focused on the fiscal cliff, with just 27 days to go and less for the official congressional session. president obama and john boehner making comments on the issue a short time ago and according to our deal meter, there it is, still only a quarter of the way there. we have got all sides of this story covered. john harwood live at the white house. eamon javers on capitol hill and the president's comments. >> the president gave an interview to our colleagues at bloomberg and said a couple of things. first of all, his priorities now trying to break republicans in their resistance to raising the top rate by some amount, a stance republicans have been consistent on. more revenue, question, not higher rates, he is insisting on that as the price of negotiating with him. and he said the reason for that is if you take all of what can be raised in revenue from deductions that is politically realistic, not trying to take away the mortgage deduction in the face of tremendous resistance from consumers and the housing industry, you can only raise about 300 to $40
. >>> the market does remain laser focused on the fiscal cliff, with just 27 days to go and less for the official congressional session. president obama and john boehner making comments on the issue a short time ago and according to our deal meter, there it is, still only a quarter of the way there. we have got all sides of this story covered. john harwood live at the white house. eamon javers on capitol hill and the president's comments. >> the president gave an interview to our...
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Dec 3, 2012
12/12
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fiscal cliff hanger. there's now less than a month left for washington to broker a deal. in global market news, a survey suggests that china's giant manufacturing sector has moved into expansion territory now again for the first time in more than a year. and on the corporate front, ubs is reportedly near a settlement with the u.s. and uk over those libor claims. it's monday, a new month for us here, december 3rd, 2012, and "squawk box" begins right now.
fiscal cliff hanger. there's now less than a month left for washington to broker a deal. in global market news, a survey suggests that china's giant manufacturing sector has moved into expansion territory now again for the first time in more than a year. and on the corporate front, ubs is reportedly near a settlement with the u.s. and uk over those libor claims. it's monday, a new month for us here, december 3rd, 2012, and "squawk box" begins right now.
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Nov 29, 2012
11/12
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nothing official, but they are expected to discuss strategies for dealing with the fiscal cliff. tim ' ner, the chief fiscal cliff negotiator meets today with congressional leaders to get the negotiations moving. >>> while you were sleeping lindsay lohan was arrested -- again. the new york city police department took her in after a fight at a club here in the city. officers say there is a possibility lohan hit a woman. they didn't confirm if she's being charged with anything at this point. >> lindsay lohan, club, 4:00 a.m., new york, bad combination. >>> anything can happen on the streets of new york city including a pony and a zebra running free on staten island. they escaped from the pen in the yard where they live but they were returned to the owner. >> is the zebra chasing the pony? >> looks like it. >>. >>> the new york times reporting on an officer who's a hero. he's kneeling down to put a new pair of boots on a homeless man. the 25-year-old officer purchased them at a nearby shoe store after noticing that the man was barefoot and was blistering. a woman from arizona snappe
nothing official, but they are expected to discuss strategies for dealing with the fiscal cliff. tim ' ner, the chief fiscal cliff negotiator meets today with congressional leaders to get the negotiations moving. >>> while you were sleeping lindsay lohan was arrested -- again. the new york city police department took her in after a fight at a club here in the city. officers say there is a possibility lohan hit a woman. they didn't confirm if she's being charged with anything at this...
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Nov 30, 2012
11/12
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we are obviously certainly no further down the road to a f fiscal cliff deal. what's the latest and is this posturing, kelly, or is this real? i mean, is this disagreement about kind of laying out the stakes of where everybody stands and what they're willing to give or is it a possibility that we don't get a deal? >> reporter: well, you do hear rumblings, chris, about no deal. but at the same time people are saying there's still some negotiating time left and a bit of optimism. when you heard the tone of what was unfolding yesterday, it was kind of shocking to republicans who would say that the president's offer is so far from a negotiating point that they are surprised not so much that these are the positions that we're in because much has been the president's public rhetoric but in terms of real negotiating they say they were surprised this wasn't the kind of offer that would have happened some weeks ago, meaning right after the election if you want to start there. but now with just four weeks to go they felt the president needed to move further. democrats be
we are obviously certainly no further down the road to a f fiscal cliff deal. what's the latest and is this posturing, kelly, or is this real? i mean, is this disagreement about kind of laying out the stakes of where everybody stands and what they're willing to give or is it a possibility that we don't get a deal? >> reporter: well, you do hear rumblings, chris, about no deal. but at the same time people are saying there's still some negotiating time left and a bit of optimism. when you...
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it is the fiscal cliff. we will have very large tax increases for everybody. the president has proposed something that would force all of that. can the republicans offer publicly an alternative, either to the fiscal cliff or to what the president is offering. the president's plan was put on the table last week. it was not that well with president on. speaker boehner and others. stuart: i wonder, as an insider, among democrats, and that is what you are, simon, i want you to tell me, what plans does the president or any other democrats, have to reform social entitlement? >> first of all, if you remember well, stuart, mitt romney and the republicans beat up on president obama for the last three years for cutting medicare at $716 billion. he has already showed he is willing to take a big bite out of a major entitlement program. stuart: hold on a second. i do remember it. that is not reform. that is not reforming the structure of entitlement programs. that is the issue. >> i think the focus has been on medicare. the attention now needs to be on medicare inside the
it is the fiscal cliff. we will have very large tax increases for everybody. the president has proposed something that would force all of that. can the republicans offer publicly an alternative, either to the fiscal cliff or to what the president is offering. the president's plan was put on the table last week. it was not that well with president on. speaker boehner and others. stuart: i wonder, as an insider, among democrats, and that is what you are, simon, i want you to tell me, what plans...
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Nov 29, 2012
11/12
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markets around the world are up today, a sign of confidence that a fiscal cliff deal just might be in the works. we'll see. another positive sign for the economy, the broadest picture we can get of the economy's health, gdp, came in quite a bit better than expected in the third quarter. alison kosik at the new york stock exchange to explain. hi. >> reporter: hey, carol. so between july and september, the economy grew at a 2.7% rate. so that came in much better than second quarter's rate, which was 1.3%. and there's definitely good stuff here. you look deeper in the report, you find out the u.s. exported more than first thought. that's good. because we really need people in other countries to buy our stuff. that helps our economy. home building and strong corporate profits, that also helped our economy. but here's the thing. when you dig deeper in the report, past that headline number of 2.7%, you know, it's not all it's cracked up to be. businesses built up bigger inventories of their products last quarter. that helps the economy now, but the thing is, it means next quarter these busi
markets around the world are up today, a sign of confidence that a fiscal cliff deal just might be in the works. we'll see. another positive sign for the economy, the broadest picture we can get of the economy's health, gdp, came in quite a bit better than expected in the third quarter. alison kosik at the new york stock exchange to explain. hi. >> reporter: hey, carol. so between july and september, the economy grew at a 2.7% rate. so that came in much better than second quarter's rate,...
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Dec 1, 2012
12/12
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the fiscal cliff. but so far it's not looking like either side is willing to compromise. >> our next guest says there has been a failure in leadership to solve this crisis. joining us now is texas congressman louie gohmert. nice to see you. >> nice to see you. >> this is not necessarily against the president you have blasted g.o.p. leaders this week for a failure to lead basically saying we need to stand on our principles. they have a delegate -- delicate position to deal with. >> up until last week there had been a failure of leadership. the president out there finally pushing so far look we are going to forget the constitution. i'm going to basically pronounce law as i speak it congress hasn't done what i wanted, so we're just gonna ignore congress' constitutional right to appropriate. congress' constitutional right to set debt ceilings and we're going to ignore that that's what basically -- geithner basically announced. speaker boehner said look we can't allow that to happen. the fact is we can't. i
the fiscal cliff. but so far it's not looking like either side is willing to compromise. >> our next guest says there has been a failure in leadership to solve this crisis. joining us now is texas congressman louie gohmert. nice to see you. >> nice to see you. >> this is not necessarily against the president you have blasted g.o.p. leaders this week for a failure to lead basically saying we need to stand on our principles. they have a delegate -- delicate position to deal...
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Dec 7, 2012
12/12
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with the fiscal cliff. the problem with closing loopholes is it's difficult to get anywhere near the type of revenue you can get from the rates on the higher income. >> fair enough. now if there is a compromise and you get the rates you want, don't you have to give up something? what key government function that's important to senator cardin would you put on the fable and a hey, i'll let this go to get something i want? >> we've always said it's got to be balanced between revenue and spending cuts. we understand and know we need to bring down the cost of healthcare. if we can bring down the cost of healthcare, we can save the economy money. >> would you be willing to see the medicare enrollment age raised? >> all that does is shift the cost to other people. we've got to bring down the cost of healthcare. our economy pay as to much for the healthcare dollars. we've got to get better results. >> is there anything else you can specifically put on the table? i got to press you on this that would hurt you the wa
with the fiscal cliff. the problem with closing loopholes is it's difficult to get anywhere near the type of revenue you can get from the rates on the higher income. >> fair enough. now if there is a compromise and you get the rates you want, don't you have to give up something? what key government function that's important to senator cardin would you put on the fable and a hey, i'll let this go to get something i want? >> we've always said it's got to be balanced between revenue...
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Dec 4, 2012
12/12
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fiscal cliff. coming up next, i'll talk with a hard-line conservative and let's ask him if he supports his party's proposal. congressman tom price is standing by. but first, as americans worry about what happens after the first of next year, cnn is giving you free advice about your savings account. >>> here on the help desk, we're talking about putting your money to work. with me this hour are greg olson and carmen wong ulrich. tova had a question about her savings. >> it is earning dreadfully low interest for numerous years. and is there anywhere that i can put my money that it's going to do any better? >> and that's going to be like that for a while with the fed doing its thing, right? >> absolutely. i don't think this is a bad thing. if this is your cash emergency savings that you cannot risk, basically what you're paying is very small opportunity cost. like insurance. so let's say you're earning 1% on your savings, right, inflation is eating away at it a little bit. it is certainly a lot lower
fiscal cliff. coming up next, i'll talk with a hard-line conservative and let's ask him if he supports his party's proposal. congressman tom price is standing by. but first, as americans worry about what happens after the first of next year, cnn is giving you free advice about your savings account. >>> here on the help desk, we're talking about putting your money to work. with me this hour are greg olson and carmen wong ulrich. tova had a question about her savings. >> it is...
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. >> trying to get two sides come together to come to a deal on the fiscal cliff. >> i don't know about young people's abilities to force cats and dogs and democrats and republicans to come together to find a deal. he had a much more profound message than just simply dancing in that clip, in that psa essentially. he was trying to alert young people to the fact that old people, bluntly, are organized. look at the army of aarp representatives that ensure that programs like medicare and social security, programs that take up something like 50% of our federal budget will remain intact and won't be subjected to the necessary reform to last for young people to ever reach them. the problem is that young people don't think life goes on after the age of 30. if you're on twitter and facebook, that's a long way away. why are you worried about entitlements? >> the funny thing is that president obama is using social media to do the exact same thing. for example, he will visit a virginia middle class family today. they were part of his twitter verse. that's why he chose them. he must think that talki
. >> trying to get two sides come together to come to a deal on the fiscal cliff. >> i don't know about young people's abilities to force cats and dogs and democrats and republicans to come together to find a deal. he had a much more profound message than just simply dancing in that clip, in that psa essentially. he was trying to alert young people to the fact that old people, bluntly, are organized. look at the army of aarp representatives that ensure that programs like medicare...
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Dec 3, 2012
12/12
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avert that fiscal cliff. the obama administration has laid out its plan calling for $1.6 trillion in new taxes. that includes letting the bush era tax cuts expire for those earning more than $250,000 a year. it's also pushing for a new $50 billion stimulus package and offering $400 billion in new cuts to medicare and other entitlement programs. but republican house speaker john boehner flatly rejected the plan on the table and what he calls the white house's unwillingness to compromise. >> i was just flabbergasted. i looked at him, i said, you can't be serious. i've never seen anything like it. you know, we've got seven weeks between election day and the end of the year. and three of those weeks have been wasted with this nonsense. >> you know, i think right now the best thing to do is for them to come to us and say, look, here's what we think makes sense. we've told them what we think makes sense. what we can't do is try to figure out what's going to be good for them. they have to come tell us. >> house mino
avert that fiscal cliff. the obama administration has laid out its plan calling for $1.6 trillion in new taxes. that includes letting the bush era tax cuts expire for those earning more than $250,000 a year. it's also pushing for a new $50 billion stimulus package and offering $400 billion in new cuts to medicare and other entitlement programs. but republican house speaker john boehner flatly rejected the plan on the table and what he calls the white house's unwillingness to compromise....
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Nov 30, 2012
11/12
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dan, we're learning more about the white house plan to deal with the fiscal cliff. break it down for us. >> reporter: right. this is the plan that secretary -- treasury secretary timothy geithner took up to capitol hill yesterday. it calls for $1.6 trillion in tax increases over a ten-year period more than republicans had anticipated. in addition to that, $400 billion in spending cuts that will come later. much of that not really specified. we're looking at entitlements such as medicare. and then the plan also includes $50 billion in stimulus spending. democrats see this really as sort of the opening salvo in these negotiations. early on in this process, both sides appear to show some level of optimism that this would get done. in the last few days and certainly yesterday it just seems like both sides are so far apart, it's not unusual for us to see this kind of posturing and other negotiations, tough negotiations over the last four years or so. you'll see things build up whether it appears that it's going to get done. then they fall apart. in the end it does happen
dan, we're learning more about the white house plan to deal with the fiscal cliff. break it down for us. >> reporter: right. this is the plan that secretary -- treasury secretary timothy geithner took up to capitol hill yesterday. it calls for $1.6 trillion in tax increases over a ten-year period more than republicans had anticipated. in addition to that, $400 billion in spending cuts that will come later. much of that not really specified. we're looking at entitlements such as medicare....
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we'll wait for a deal on the fiscal cliff. low volume as well today. the dow closed down yesterday at 12,966. but can it gets over that 13,000 mark for the new year? pill * police say she is running out of time. an 11-year-old girl taken from the cancer ward by her mother as seen on this surveillance camera. police say if she is not found soon she could die. now a new clue was just uncovered by police, and that's next. martha: president obama may be turn together fashion world for this next ambassador to france. he may be considering anna wintour. she was a top fundraiser who helps organize a dinner. it brought in $8.2 million. we have fundraisers take on those posts. she has denied she wants it so far. we'll see. bill: 6-hour plane flight. there are new developments on the search for a u.s. girl wanted. her father was stopped at the border by police. her mother removed her mother's i.v. and walked her out of the hospital without notifying doctors. the child has a catheter in her heart. if it's not removed. there is a possibility an infection could kil
we'll wait for a deal on the fiscal cliff. low volume as well today. the dow closed down yesterday at 12,966. but can it gets over that 13,000 mark for the new year? pill * police say she is running out of time. an 11-year-old girl taken from the cancer ward by her mother as seen on this surveillance camera. police say if she is not found soon she could die. now a new clue was just uncovered by police, and that's next. martha: president obama may be turn together fashion world for this next...
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Nov 29, 2012
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whenever you hear members of congress talk about any kind of fiscal cliff deal you have to approach it with a sort of believe everything and believe nothing attitude. i think that everybody wants to avoid having taxes go up for all americans as of january 1st but everybody has a price for that. and it, to me, it's about whether or not both sides are looking for a win-win deal, meaning, my opponent wins and i win. or whether both sides or one of the sides are looking for a deal where only i win and you lose and on top of all of that then we have to look at what do they want to include in any sort of deal? are we going to address entitlement reform? are we going to cut spending? are we only trying to deal with the tax cut issue? will we try to address the debt ceiling issue? so there are a lot of moving parts here. jon: it seems the campaign promise of the president to raise taxes on couples making over $250,000 a year, it seems like that almost has to come true in some form for the president and the democrats to swallow a deal? >> i think so. i think the president has been committed to
whenever you hear members of congress talk about any kind of fiscal cliff deal you have to approach it with a sort of believe everything and believe nothing attitude. i think that everybody wants to avoid having taxes go up for all americans as of january 1st but everybody has a price for that. and it, to me, it's about whether or not both sides are looking for a win-win deal, meaning, my opponent wins and i win. or whether both sides or one of the sides are looking for a deal where only i win...
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in the next half hour, we'll talk about the prospect for a fiscal cliff deal with california's democratic congressman xavier becerra. >>> the rain and flooding are relentless in northern california. four storms in less than a week left at least one death now attributed to those storms. and more rain is expected today. let's get right to meteorologist rob marciano. he is following it all from the cnn weather center in atlanta. good morning. >> good morning, zoraida. this is the worst stretch of storms that northern california has seen really in about two years. another punch today then we'll set up for a dry trend. the good news is that it has been dry so the ground, even though we've seen a lot of major flooding, the ground has absorbed a fair amount of it. seattle to portland, rain right now. snow at the highest elevations, and the rain will eventually push down into san francisco and sacramento later on today. this system is actually messing up the atmosphere and creating a lot of warmth across much of the country. if you live anywhere east of the rockies, actually anywhere east of the
in the next half hour, we'll talk about the prospect for a fiscal cliff deal with california's democratic congressman xavier becerra. >>> the rain and flooding are relentless in northern california. four storms in less than a week left at least one death now attributed to those storms. and more rain is expected today. let's get right to meteorologist rob marciano. he is following it all from the cnn weather center in atlanta. good morning. >> good morning, zoraida. this is the...
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Dec 6, 2012
12/12
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. >>> and is this what the fiscal cliff deal has come to? why 81-year-old former senator alan simpson is going gangnam style to get everyone's attention on debt. >> it has officially jumped the shark. >>> alan st. pierre is the executive director for the national,or for the reform of marijuana laws. oregon senator jeff merkley, heidi ewing, and rachel grady will be joining us. steve satich, ohio congressman, steve latourette, and ambassador nick burns are our guests this morning. it's thursday, december 6th, and "starting point" begins right now. >>> welcome, everybody. our starting point this morning, some major developments to tell you about in egypt, after angry protests against political moves by the president, mohamed morsi, have turned deadly. tanks, armored personnel vehicles, all stationed outside the presidential analysis cairo. not only are they guarding the palace, they're also keeping apart supporters and opponents of morsi. hundreds of his islamist supporters already taking to the streets in cairo this morning. opponents are gat
. >>> and is this what the fiscal cliff deal has come to? why 81-year-old former senator alan simpson is going gangnam style to get everyone's attention on debt. >> it has officially jumped the shark. >>> alan st. pierre is the executive director for the national,or for the reform of marijuana laws. oregon senator jeff merkley, heidi ewing, and rachel grady will be joining us. steve satich, ohio congressman, steve latourette, and ambassador nick burns are our guests this...